Last Updated: 04/18/2025
CoastLife Credit Union Traditional IRA Certificate of Deposit
Unaffiliated
in CD Accounts from CoastLife Credit Union
Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rate
Cast Your Vote
Compare All CD Accounts
Filter & compare all your options in one place.
Highlights
APY (Annual Percentage Yield)
3.45% - 3.82%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $25,000
Certificate Term
2 years
CoastLife Credit Union Traditional IRA Certificate of Deposit Review
CoastLife Credit Union Traditional IRA Certificate of Deposit are offered by CoastLife Credit Union, a credit union founded in 1935 and based in Corpus Christi, TX. CoastLife Credit Union Traditional IRA Certificate of Deposit are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. CoastLife Credit Union Traditional IRA Certificate of Deposit only offers IRA share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.82%, which is much higher than the national average for a certificate account.
- High minimum deposit. You must deposit a minimum of $25,000.00, which is high compared to most certificate accounts.
- Limited selection of share certificate terms. CoastLife Credit Union Traditional IRA Certificate of Deposit only offers one share certificate term. This limits your options when trying to set up a certificate ladder.
Pros & Cons of CoastLife Credit Union Traditional IRA Certificate of Deposit
| Pros | Cons |
|
|
CoastLife Credit Union Traditional IRA Certificate of Deposit FAQ
Are share certificates from CoastLife Credit Union federally insured?
Yes, your share certificates are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.
What is the difference between CDs and Share Certificates?
Certificates of Deposit (CDs) and Share Certificates are both deposit accounts where your money can grow at a fixed rate for a predetermined period of time. Both are low-risk and federally insured products designed to give you a better rate on your deposits than typical savings accounts. The main difference between them is that CDs are offered by for-profit banks, whereas Share Certificates are offered by member-owned, not-for-profit credit unions.
What types of share certificates does CoastLife Credit Union offer?
CoastLife Credit Union Traditional IRA Certificate of Deposit provides the following types of share certificates.- Traditional share certificates. These share certificates pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the share certificate for another term.
- IRA share certificates. An IRA share certificate is a type of IRA that consists entirely of share certificates. In general, you can invest in share certificates in any IRA, but CoastLife Credit Union Traditional IRA Certificate of Deposit offers a share certificate that is specifically for retirement.
What rates does CoastLife Credit Union offer on its share certificates?
CoastLife Credit Union Traditional IRA Certificate of Deposit offers an APY starting at 3.45% and ranging up to 3.82%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.
What terms does CoastLife Credit Union Traditional IRA Certificate of Deposit offer?
CoastLife Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 2 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 3.45% - 3.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 3.45% - 3.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with CoastLife Credit Union?
CoastLife Credit Union Traditional IRA Certificate of Deposit require a minimum deposit of $25,000.00 to open an account.
What is the grace period for CoastLife Credit Union Traditional IRA Certificate of Deposit?
CoastLife Credit Union Traditional IRA Certificate of Deposit does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your share certificate without paying an early withdrawal penalty. A grace period starts the day after a share certificate’s maturity date, or the final day a share certificate is opened. Standard share certificates renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new share certificate rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does CoastLife Credit Union charge?
Financial institutions don't typically charge many fees on share certificates. However, most charge a fee if you choose to withdraw your money before the term ends.
CoastLife Credit Union charges an early withdrawal fee.
CoastLife Credit Union does charge any of the fees we track.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
10:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 5:30PM
Saturday
Closed